GameStop (GME) is back in the spotlight after trader Keith Gill, known as "Roaring Kitty" online, resurfaced with a post on X. Gill led the GameStop short squeeze in 2021, and following his online comeback, shares of the video game retailer soared nearly 80%. Yahoo Finance Head of News Myles Udland recaps the meme stock’s frenzy and what to expect of Roaring Kitty this time around.
"There is a very clear momentum when a certain person — in this case, Keith Gill, also known as Roaring Kitty — speaks about a certain stock, in this case, GameStop. There is an impulse to buy it because of what has happened in the past," Udland explains.
Gill gave detailed breakdowns of GameStop’s business back in 2020, telling Reddit users that the stock was undervalued. "He was a true believer way before there was any meme," Udland says. The resurgence of "Roaring Kitty" has already popped meme stocks as traders look to see what call Gill might make next.
#youtube #investing #reddit
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